Gold sector
Gold producers offer single-digit pay hikes to unions
Gold producers have been giving above-inflation wage hikes for years, adding to the cost burden of an industry that has been battling depressed prices and...
The existing two-year wage deal between the companies & unions expires at the end of next month.
Amcu members voted in October to strike in the gold sector including at Sibanye.
South Africa’s entire gold industry is being squeezed by falling prices and production, and rising costs.
The union says it’s received the go-ahead from its members & the CCMA to protest over wages.
SA stocks ended higher today with gold producers among the top gainers after a breakthrough in the sector.
Two mining companies have signed agreements with unions, ending weeks of negotiations.
The conciliation talks are taking place after wage negotiations failed earlier this month.
Gold companies declared a dispute with trade union Solidarity over a wage agreement.
The companies include AngloGold Ashanti, Evander Gold Mines, Harmony and Sibanye Gold.
The union doesn't accept the claim by gold miners that they can't afford its demands.
Following an announcement of massive job cuts in the platinum sector, gold sector unions have been warned.
The gold price dropped to its lowest level in five years to under $1,100 an ounce.
Amcu’s Jimmy Gama says they’ve agreed to meet with gold producers this week.
Gold mine producers say it would be 'irresponsible' to agree to Amcu's demand as it's unaffordable.
Gold producers say a demand by trade unions for higher ages is simply ‘unaffordable’.
Amcu says its relationship with govt departments remains strained as it heads into wage talks.
The bullion producer is also seeking $2.1 billion in a rights issue.
The mining company says it would suit its strategic goal of being a premium dividend player.